By: John Lavey | Hammock President/COO
The marketplace for healthcare analytics is projected to grow from $15 billion in 2019 to $60 billion in 2025. Healthcare marketers who use big data tools will be able to learn more about customer preferences and see patterns that are currently invisible.
Big data will be instrumental in areas like population health, providing payers and providers with the tools they need to deliver better care and helping them allocate resources more efficiently.
Big data will also help healthcare marketers gives customers the content they want, when they want it. Imagine no longer needing to spend time guessing what customers might be interested in. You will be able to build custom content based on clearer information about customer preferences.
On the other side of the equation is the dilemma best summed up as “just because you can do something, doesn’t mean it should be done.” The concerns include: How will issues around privacy play out in an era of data breaches, specifically with Facebook and other entities that hold our personal information? As we rely more on the power of big data tools, will healthcare providers or insurance companies own our information or will we have more ownership of our own data? What will we sacrifice to gain convenience?
How big data will help power content in the next five years is still a guess. But what we can anticipate is that the power to learn more about customer preferences will still have to be balanced against the desire for those same consumers to protect information about themselves.
Takeaway: The power of big data will intensify in the healthcare marketplace, but how trustworthy will marketers be, and what will consumers demand?
Photo | Getty images
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